The Drudge Report is stirring the rumor pot on the Sirius and XM merger. The information offered on Drudge is scant, but being that the site is read by many, it is sure to have a ripple effect in the sector.
"APPROVED OR DENIED? DRAMA BUILDS AROUND SIRIUS-XM MERGER... DEVELOPING..."
That's the entire Drudge quote at this point. This will certainly develop web hits as trading starts tomorrow.
The key take away here is that yes, things could well be coming to a head on the merger. The recent filings with the FCC, and the comments made by the FCC regarding a Q1 decision coupled with most feeling that the DOJ will announce first leaves little time for things to transpire.
Sector watchers will be glued to the news wires on Monday. Will the stocks respond to these latest rumors? Only time will tell. My opinion is that the more time that passes, the more likely we are to see additional speculation on the merger.
[ DrudgeReport via Orbitcast ]
Position - Long Sirius, Long XM